Singapore Grants Preliminary License to OKX

According to the latest announcement on OKX exchange’s Twitter page on March 13th, OKX SG has had a promising start by receiving preliminary approval for a license from the Monetary Authority of Singapore (MAS).

Hong Fang, Chairman of OKX, shared in a press statement:

Singapore is an important market and we have invested here for a long time. The principle approval from MAS not only confirms our commitment but also presents an exciting opportunity for us to continue contributing positively to Singapore’s cryptocurrency ecosystem.

The list of cryptocurrency companies that have been fully licensed by MAS in this country currently includes Circle, Coinbase, Ripple, and Upbit. If OKX is approved, it will be the fifth largest cryptocurrency exchange with a license from MAS.

OKX is one of the largest cryptocurrency exchanges globally, with cryptocurrency trading volume surpassing $75 billion in February. The exchange has had significant impact, while the leading exchange Binance had a monthly trading volume of $506 billion, according to data from The Block. Recently, OKX also opened a branch in Turkey, expanding its global presence.

Related: OKX to List QnA3.AI’s GPT Token on its Spot Market

OKB Chart After OKX Announcement

OKB is the exchange token of OKX exchange.

Chart of OKB/USDT on Tradingview at 3:35 AM on March 13th, 2024.